DXC Technology and Zafin Partner to Help Banks Manage Conduct Risk and Increase Customer Lifetime Value
June 2019 by Marc Jacob
DXC Technology and Zafin have entered into a collaboration that will enable DXC’s core banking clients to make a strategic response to the changing demands of the marketplace.
A key aspect is the launch of a standardized data connector between DXC’s two core banking solutions, Hogan and Celeriti Digital Banking-as-a-Service, and Zafin’s cloud-based platform. This means that users can transform their product and pricing approach quickly, with low implementation costs and reduced operational risk. By externalizing product and pricing control from the core banking solutions, clients create an enhanced architecture that accelerates speed to market for new solutions, provides highly responsive relationship pricing, and bolsters controls and governance.
Since the global financial crisis, banking regulators’ oversight of banks has intensified, with a heightened focus on ensuring fair outcomes for clients. While banks have been responding to this increased scrutiny and the required investments in technology and process, the rise of asymmetric competitors, such as digital banks and other new entrants to financial services, has disrupted the hegemony of traditional banks with targeted solutions, aggressive pricing and a compelling client experience. Compounding these challenges, Open Banking continues to bring new business models and competition to the financial sector, while also creating significant compliance costs for the region’s banks.